PRESS DIGEST- British Business - July 16

July 16 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.

The Times

*Philip Green defended the sale of BHS, arguing that he invested £421 million ($555.21 million) in the department stores chain during his family's ownership.(bit.ly/29CVul3)

*The Bank of England must act "promptly as well as muscularly" next month with a package of measures to cushion the blow from Brexit, its chief economist, Andy Haldanehas, said.(bit.ly/29CVe5r)

The Guardian

*The UK has sought advice from Canada on how to secure a trade agreement with the EU following the Brexit vote, the Canadian Trade Minister Chrystia Freeland said. (bit.ly/29CV6mr)

*Bus and train operator FirstGroup has warned that its UK business is likely to be hit by weakening consumer confidence after the decision to exit the EU. (bit.ly/29CVv8P)

The Telegraph

*Britons are among 110,000 holidaymakers whose forthcoming trips have been plunged into turmoil as travel website Low Cost Travel Group has gone into administration. (bit.ly/29CVvFx)

*The UK faces a looming winter gas supply crunch after Centrica said it has been forced to shut down a key gas storage facility until next spring. (bit.ly/29CVRMD)

Sky News

*MPs have described as "deeply unfair" Volkswagen's plan not to compensate 1.2 million UK customers affected by the firm's emissions scandal.(bit.ly/29CYpdG)

*The troubled Co-operative Bank is replacing its finance director, John Baines, as it grapples with the legacy of problems that brought it to the brink of collapse three years ago. (bit.ly/29CVZvx)

The Independent

*Investors are still catching some of the global success of Pokemon Go global success, which has Nintendo shares hit a six-year high. (ind.pn/29CWxS1)

*The chemical and pharmaceutical giant Bayer raised its offer for Monsanto in a bid that values shares of the US company at $54.7 billion.(ind.pn/29CW9Da) ($1 = 0.7583 pounds) (Compiled by Bhanu Pratap in Bengaluru; Editing by Sandra Maler)